3 ms·
> The urge to measure everything by income leads to absurd results What? Measuring relative to income is the only criteria that matters. What would be absurd i
by jjav 2y ago
> The urge to measure everything by income leads to absurd results
What? Measuring relative to income is the only criteria that matters. What would be absurd is not to compare to income.
There isn't any absolute number at which housing is affordable or not affordable. It is purely a function of what percentage you need to spend of your income to be housed.
- AnthonyMouse 2y agoIf the global price of materials means that it isn't possible to build a housing unit for less than $40,000 then in places where $40,000 isn't an affordable housing cost, your only options are to somehow lower global commodity prices or somehow raise local wages. Both of which are hard, and neither of which are particularly specific to the housing market. It's just not a place where that problem can be solved. Whereas if the global price of materials means that it is possible to build a housing unit for $40,000, but local regulations make it cost $800,000, and then as a result local housing costs are $800,000, that is a problem in the local housing market.